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Statement of affairs

lotsaquestions
lotsaquestions Posts: 31 Forumite
in Bankruptcy & living with it
I have a soa here for everyone to take a look at. I am thinking about either BR or a DRO once the pension rules come into force in April. Not sure what is best

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1417
Partners monthly income after tax....... 0
Benefits................................ 210
Other income............................ 0
Total monthly income.................... 1627

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 325
Management charge (leasehold property).. 0
Council tax............................. 134
Electricity............................. 80
Gas..................................... 70
Oil..................................... 0
Water rates............................. 80
Telephone (land line)................... 20
Mobile phone............................ 35
TV Licence.............................. 12
Satellite/Cable TV...................... 22
Internet Services....................... 10
Groceries etc. ......................... 250
Clothing................................ 80
Petrol/diesel........................... 100
Road tax................................ 15
Car Insurance........................... 70
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 240
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 40
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 20
Entertainment........................... 20
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 1723


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 300
Other assets............................ 0
Total Assets............................ 300

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................9880......130.......0
loan...........................500.......27........0
loan...........................425.......0.........0
phone contract.................300.......0.........0
loan...........................380.......0.........0
loan ..........................250.......0.........0
loan...........................52........0.........0
Total unsecured debts..........11787.....157.......-


Monthly Budget Summary
Total monthly income.................... 1,627
Expenses (including HP & secured debts). 1,723
Available for debt repayments........... -96
Monthly UNsecured debt repayments....... 157
Amount short for making debt repayments. -253

Personal Balance Sheet Summary
Total assets (things you own)........... 300
Total HP & Secured debt................. -0
Total Unsecured debt.................... -11,787
Net Assets.............................. -11,487
«13

Comments

  • dojoman
    dojoman Posts: 12,027 Forumite
    lotsaquestions wrote: »
    I have a soa here for everyone to take a look at. I am thinking about either BR or a DRO once the pension rules come into force in April. Not sure what is best

    Statement of Affairs and Personal Balance Sheet

    Household Information
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1

    Monthly Income Details
    Monthly income after tax................ 1417
    Partners monthly income after tax....... 0
    Benefits................................ 210
    Other income............................ 0
    Total monthly income.................... 1627

    Monthly Expense Details
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 325
    Management charge (leasehold property).. 0
    Council tax............................. 134
    Electricity............................. 80
    Gas..................................... 70
    Oil..................................... 0
    Water rates............................. 80 VERY HIGH?
    Telephone (land line)................... 20 £60 INC MOBILE
    Mobile phone............................ 35
    TV Licence.............................. 12
    Satellite/Cable TV...................... 22 NOT ALLOWED
    Internet Services....................... 10 NOT ALLOWED UNLESS FOR WORK/STUDY. COULD YOU NOT GET IT IN A BUNDLE WITH YOUR PHONE?
    Groceries etc. ......................... 250
    Clothing................................ 80
    Petrol/diesel........................... 100
    Road tax................................ 15
    Car Insurance........................... 70
    Car maintenance (including MOT)......... 30
    Car parking............................. 0
    Other travel............................ 240 WHAT IS THIS
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 40
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0 NO INSURANCE?
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 10 NOT ALLOWED
    Haircuts................................ 20 £10
    Entertainment........................... 20 NOT ALLOWED
    Holiday................................. 60 £40
    Emergency fund.......................... 0
    Total monthly expenses.................. 1723


    Assets
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 300
    Other assets............................ 0
    Total Assets............................ 300

    No Secured nor Hire Purchase Debts

    Unsecured Debts
    Description....................Debt......Monthly...APR
    loan...........................9880......130.......0
    loan...........................500.......27........0
    loan...........................425.......0.........0
    phone contract.................300.......0.........0
    loan...........................380.......0.........0
    loan ..........................250.......0.........0
    loan...........................52........0.........0
    Total unsecured debts..........11787.....157.......-


    Monthly Budget Summary
    Total monthly income.................... 1,627
    Expenses (including HP & secured debts). 1,723
    Available for debt repayments........... -96
    Monthly UNsecured debt repayments....... 157
    Amount short for making debt repayments. -253

    Personal Balance Sheet Summary
    Total assets (things you own)........... 300
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -11,787
    Net Assets.............................. -11,487

    Hope this helps?
    :pB&SC No. 298
    Life`s Tragedy is that we get OLD too soon
    and WISE too late!
  • lotsaquestions
    lotsaquestions Posts: 31 Forumite
    Statement of Affairs and Personal Balance Sheet

    Household Information
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1

    Monthly Income Details
    Monthly income after tax................ 1417
    Partners monthly income after tax....... 0
    Benefits................................ 210
    Other income............................ 0
    Total monthly income.................... 1627

    Monthly Expense Details
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 325
    Management charge (leasehold property).. 0
    Council tax............................. 134
    Electricity............................. 80
    Gas..................................... 70
    Oil..................................... 0
    Water rates............................. 80 ( inclues arrears from before i got married. My wife pays some seperately as well)
    Telephone (land line)................... 20
    Mobile phone............................ 35
    TV Licence.............................. 12
    Satellite/Cable TV...................... 22(under contract- phone.internet are bundled in- wrote seperately for soa)
    Internet Services....................... 10 (in bundle, eldest child needs for study)
    Groceries etc. ......................... 250
    Clothing................................ 80
    Petrol/diesel........................... 100
    Road tax................................ 15
    Car Insurance........................... 70
    Car maintenance (including MOT)......... 30
    Car parking............................. 0
    Other travel............................ 240 (train ticket to work)
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 40
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 10
    Haircuts................................ 20 (£2.50 a month per person?? How?)
    Entertainment........................... 20
    Holiday................................. 60
    Emergency fund.......................... 0
    Total monthly expenses.................. 1723


    Assets
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 300
    Other assets............................ 0
    Total Assets............................ 300

    No Secured nor Hire Purchase Debts

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    loan...........................9880......130...... .0
    loan...........................500.......27....... .0
    loan...........................425.......0........ .0
    phone contract.................300.......0.........0
    loan...........................380.......0........ .0
    loan ..........................250.......0.........0
    loan...........................52........0........ .0
    Total unsecured debts..........11787.....157.......-


    Monthly Budget Summary
    Total monthly income.................... 1,627
    Expenses (including HP & secured debts). 1,723
    Available for debt repayments........... -96
    Monthly UNsecured debt repayments....... 157
    Amount short for making debt repayments. -253

    Personal Balance Sheet Summary
    Total assets (things you own)........... 300

    Will take your notes into account and redo












    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -11,787
    Net Assets.............................. -11,487
  • lotsaquestions
    lotsaquestions Posts: 31 Forumite
    Statement of Affairs and Personal Balance Sheet

    Household Information
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1

    Monthly Income Details
    Monthly income after tax................ 1417
    Partners monthly income after tax....... 0
    Benefits................................ 210
    Other income............................ 0
    Total monthly income.................... 1627

    Monthly Expense Details
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 325
    Management charge (leasehold property).. 0
    Council tax............................. 134
    Electricity............................. 80
    Gas..................................... 70
    Oil..................................... 0
    Water rates............................. 80
    Telephone (land line)................... 60
    Mobile phone............................ 0
    TV Licence.............................. 12
    Satellite/Cable TV...................... 22
    Internet Services....................... 0
    Groceries etc. ......................... 250
    Clothing................................ 80
    Petrol/diesel........................... 100
    Road tax................................ 15
    Car Insurance........................... 70
    Car maintenance (including MOT)......... 30
    Car parking............................. 0
    Other travel............................ 240
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 40
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 10
    Entertainment........................... 0
    Holiday................................. 40
    Emergency fund.......................... 0
    Total monthly expenses.................. 1658


    Assets
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 300
    Other assets............................ 0
    Total Assets............................ 300

    No Secured nor Hire Purchase Debts

    Unsecured Debts
    Description....................Debt......Monthly...APR
    loan...........................9880......130.......0
    loan...........................500.......27........0
    loan...........................425.......0.........0
    phone contract.................300.......0.........0
    loan...........................380.......0.........0
    loan ..........................250.......0.........0
    loan...........................52........0.........0
    Total unsecured debts..........11787.....157.......-


    Monthly Budget Summary
    Total monthly income.................... 1,627
    Expenses (including HP & secured debts). 1,658
    Available for debt repayments........... -31
    Monthly UNsecured debt repayments....... 157
    Amount short for making debt repayments. -188

    Personal Balance Sheet Summary
    Total assets (things you own)........... 300
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -11,787
    Net Assets.............................. -11,487
  • dojoman
    dojoman Posts: 12,027 Forumite
    Sorry my head is up somewhere it should not be:o I will redo the figures now, for some reason I have done it based on one person:o
    :pB&SC No. 298
    Life`s Tragedy is that we get OLD too soon
    and WISE too late!
  • lotsaquestions
    lotsaquestions Posts: 31 Forumite
    dojoman wrote: »
    Sorry my head is up somewhere it should not be:o I will redo the figures now, for some reason I have done it based on one person:o


    No worries LOL, My head has spinning figures too
  • dojoman
    dojoman Posts: 12,027 Forumite
    lotsaquestions wrote: »
    I have a soa here for everyone to take a look at. I am thinking about either BR or a DRO once the pension rules come into force in April. Not sure what is best

    Statement of Affairs and Personal Balance Sheet

    Household Information
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1

    Monthly Income Details
    Monthly income after tax................ 1417
    Partners monthly income after tax....... 0
    Benefits................................ 210
    Other income............................ 0
    Total monthly income.................... 1627

    Monthly Expense Details
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 325
    Management charge (leasehold property).. 0
    Council tax............................. 134
    Electricity............................. 80
    Gas..................................... 70
    Oil..................................... 0
    Water rates............................. 80 SEEMS HIGH
    Telephone (land line)................... 20 £60 INCLUDING MOBILE
    Mobile phone............................ 35
    TV Licence.............................. 12
    Satellite/Cable TV...................... 22 NOT ALLOWED
    Internet Services....................... 10 ONLY FOR WORK/STUDY
    Groceries etc. ......................... 250
    Clothing................................ 80
    Petrol/diesel........................... 100
    Road tax................................ 15
    Car Insurance........................... 70
    Car maintenance (including MOT)......... 30
    Car parking............................. 0
    Other travel............................ 240
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 40
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 10 NOT ALLOWED
    Haircuts................................ 20 £30
    Entertainment........................... 20 NOT ALLOWED
    Holiday................................. 60
    Emergency fund.......................... 0
    Total monthly expenses.................. 1723


    Assets
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 300
    Other assets............................ 0
    Total Assets............................ 300

    No Secured nor Hire Purchase Debts

    Unsecured Debts
    Description....................Debt......Monthly...APR
    loan...........................9880......130.......0
    loan...........................500.......27........0
    loan...........................425.......0.........0
    phone contract.................300.......0.........0
    loan...........................380.......0.........0
    loan ..........................250.......0.........0
    loan...........................52........0.........0
    Total unsecured debts..........11787.....157.......-


    Monthly Budget Summary
    Total monthly income.................... 1,627
    Expenses (including HP & secured debts). 1,723
    Available for debt repayments........... -96
    Monthly UNsecured debt repayments....... 157
    Amount short for making debt repayments. -253

    Personal Balance Sheet Summary
    Total assets (things you own)........... 300
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -11,787
    Net Assets.............................. -11,487

    Hope this helps? sorry about the first one, mind on other things:o The problem you have is your outgoings are more than your income and there is not a lot of room for maneuver with those figures.

    Again please accept my apologies for my first attempt and please ignore it.
    :pB&SC No. 298
    Life`s Tragedy is that we get OLD too soon
    and WISE too late!
  • Cash_Waster
    Cash_Waster Posts: 204 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    lotsaquestions wrote: »
    I have a soa here for everyone to take a look at. I am thinking about either BR or a DRO once the pension rules come into force in April. Not sure what is best

    Statement of Affairs and Personal Balance Sheet

    Household Information
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1

    Monthly Income Details
    Monthly income after tax................ 1417
    Partners monthly income after tax....... 0
    Benefits................................ 210
    Other income............................ 0
    Total monthly income.................... 1627

    Monthly Expense Details
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 325
    Management charge (leasehold property).. 0
    Council tax............................. 134 Same
    Electricity............................. 80 Seems high for a £325 rental property. my gas and electric are less than that on a 4 bedroom semi
    Gas..................................... 70 Same
    Oil..................................... 0
    Water rates............................. 80
    Telephone (land line)................... 20 Cable/telephone/mobile/internet all in one £60 bundle here
    Mobile phone............................ 35
    TV Licence.............................. 12
    Satellite/Cable TV...................... 22
    Internet Services....................... 10
    Groceries etc. ......................... 250 Very low for 4 people
    Clothing................................ 80 Low for 4 people
    Petrol/diesel........................... 100
    Road tax................................ 15
    Car Insurance........................... 70
    Car maintenance (including MOT)......... 30
    Car parking............................. 0
    Other travel............................ 240 £455 on travel? chances are these will be demeed excessive.
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 40
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
     Presents (birthday, christmas etc)...... 10not allowed
    Haircuts................................ 20
    Entertainment........................... 20 not allowed add into food
    Holiday................................. 60
    Emergency fund.......................... 0
    Total monthly expenses.................. 1723


    Assets
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 300
    Other assets............................ 0
    Total Assets............................ 300

    No Secured nor Hire Purchase Debts

    Unsecured Debts
    Description....................Debt......Monthly...APR
    loan...........................9880......130.......0
    loan...........................500.......27........0
    loan...........................425.......0.........0
    phone contract.................300.......0.........0
    loan...........................380.......0.........0
    loan ..........................250.......0.........0
    loan...........................52........0.........0
    Total unsecured debts..........11787.....157.......-


    Monthly Budget Summary
    Total monthly income.................... 1,627
    Expenses (including HP & secured debts). 1,723
    Available for debt repayments........... -96
    Monthly UNsecured debt repayments....... 157
    Amount short for making debt repayments. -253

    Personal Balance Sheet Summary
    Total assets (things you own)........... 300
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -11,787
    Net Assets.............................. -11,487

    Does your partner contribute to any bills or work. At present you are showing your out goings are more than your income. So BR would do you know favours theoretically.
  • lotsaquestions
    lotsaquestions Posts: 31 Forumite
    My wifes whole income is included in these calculations- cb and child tax credit.

    The electric and gas are on prepay meters- gas may be lower in summer but ive only lived here 3 months so dont really know,.the dbts however are all mine singly

    The car belongs to my wife, it is needed to take jer youngest to school- no bus service. I wish the train did cost less than £60 a week as well- probably go up in January also

    In reality we actually are failing with the holiday money savings, i know from reading on here its an allowance though

    Before we married my wife go housing benefit working tax credit ctc and cb. However she since lost her job and we no longer quALIFY FOR THE OTHER BENEFITS- JUST £20 ODD a week ctc and the cb

    I will have another go at the soa
  • lotsaquestions
    lotsaquestions Posts: 31 Forumite
    Statement of Affairs and Personal Balance Sheet

    Household Information
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1

    Monthly Income Details
    Monthly income after tax................ 1417
    Partners monthly income after tax....... 0
    Benefits................................ 210
    Other income............................ 0
    Total monthly income.................... 1627

    Monthly Expense Details
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 325
    Management charge (leasehold property).. 0
    Council tax............................. 134
    Electricity............................. 80
    Gas..................................... 60
    Oil..................................... 0
    Water rates............................. 80
    Telephone (land line)................... 60
    Mobile phone............................ 0
    TV Licence.............................. 12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 250
    Clothing................................ 80
    Petrol/diesel........................... 100
    Road tax................................ 15
    Car Insurance........................... 75
    Car maintenance (including MOT)......... 20
    Car parking............................. 0
    Other travel............................ 240
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 30
    Entertainment........................... 0
    Holiday................................. 50
    Emergency fund.......................... 0
    Total monthly expenses.................. 1611


    Assets
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 300
    Other assets............................ 0
    Total Assets............................ 300

    No Secured nor Hire Purchase Debts

    Unsecured Debts
    Description....................Debt......Monthly...APR
    loan...........................9880......130.......0
    loan...........................500.......27........0
    loan...........................500.......0.........0
    loan...........................52........0.........0
    loan...........................250.......0.........0
    loan...........................380.......0.........0
    phone contract.................300.......0.........0
    loan...........................425.......0.........0
    Total unsecured debts..........12287.....157.......-


    Monthly Budget Summary
    Total monthly income.................... 1,627
    Expenses (including HP & secured debts). 1,611
    Available for debt repayments........... 16
    Monthly UNsecured debt repayments....... 157
    Amount short for making debt repayments. -141

    Personal Balance Sheet Summary
    Total assets (things you own)........... 300
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -12,287
    Net Assets.............................. -11,987
  • tigerfeet2006
    tigerfeet2006 Posts: 14,030 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    First off are you both going BR?
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
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